Carney on Brexit, Putin Pressure, Trade Talks Progress: Eco Day

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Welcome to Thursday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Though the U.K. is better prepared for a no-deal Brexit than it was, it would still cause a huge economic shock, the Times reported, citing comments from Bank of England governor Mark Carney
• It took less than a week from when President Vladimir Putin criticized the agency that produces Russia’s economic data in December for its chief to be out of a job. But his replacement says he’s not worried about Kremlin pressure
• Romania’s fastest retail-sales growth in more than a year reflects surging imports that are widening the current-account deficit
• The annual deadline for U.K. businesses to report their gender pay gap is approaching and results so far show few signs that progress has been made
• Central-bank heads of Germany and France called on European leaders to double down on efforts to integrate capital markets
• The Fed risks stoking the sort of asset bubbles Jerome Powell linked to the last two recessions in its new-found eagerness to fan inflation
• The trade deal that the U.S. and China are crafting would give Beijing until 2025 to meet commitments on commodity purchases and allow American companies to wholly own Chinese enterprises
• President Donald Trump’s top economic adviser touted progress in high-level talks with China, but cautioned that a final deal to end the trade war remains elusive
• China offered new measures to reduce taxes and raise its citizens’ wages, ramping up an already ambitious plan to boost domestic demand
• The BOJ is likely to unveil its lowest two-year inflation forecast under Haruhiko Kuroda at a meeting later this month. In more positive news, Japan’s output gap is now the highest since 1992
• India is set to deliver its first back-to-back rate cut since 2016 as the central bank grapples with a slowdown both at home and abroad

To contact the reporter on this story: Anirban Nag in Mumbai at anag8@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke

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